Credit, Collections & Insolvency News
Annual figures from the Insolvency Service have shown that there were 23,872 registered business insolvencies in England and Wales in 2024 a fall of 5.1% from 2023’s figure of 25,163. The business insolvencies comprised of 18,840 creditors’ voluntary liquidations (CVLs), 3,230 compulsory liquidations, 1,597 administrations, 202 company voluntary arrangements (CVAs) and three receivership appointments. The…
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Annual figures from Accountant in Bankruptcy (AiB) have shown that business insolvencies in Scotland remained stable in 2024. Scottish business insolvencies remained steady at 1,236 compared to 1,234 in 2023. Figures for December 2024, showed that there were 82 business insolvencies registered in Scotland, 24% lower than the number in December 2023. The business insolvencies…
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Annual statistics from the Insolvency Service have shown that Northern Irish business insolvencies increased whilst personal insolvencies figures remained similar to the numbers in 2023. The annual number of business insolvencies in Northern Ireland in 2024 was 305, a 40% increase from 2023 (218 in total). In December 2024 there were 23 business insolvencies registered…
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New analysis by Kroll found there were 1,330 business administrations last year, a 6% increase on the year before and significantly higher than in the years following the pandemic. Manufacturing suffered the most with administrations up by a fifth followed by the construction sector. The sector posting the biggest increase in business administration was recruitment…
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Leonard Curtis has unveiled new roles for two key members of its leadership team. David Brown, who joined the business in July 2023 as Chief Operations and Financial Officer, becomes Chief Operating Officer (COO), while Paul Birks, who has been Group Financial Director since September 2022, will be promoted to Chief Financial Officer (CFO). Brown…
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PKF Littlejohn Advisory has announced it has appointed Paul Williams as a new Partner to further strengthen the firm’s UK-wide restructuring and insolvency capabilities. Williams has more than 30 years experience across corporate restructuring, recovery and advisory and has built a reputation as a trusted advisor to a wide range of senior lenders. High-profile assignments…
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The Night Time Industries Association (NTIA) has released figures showing a 32.7% decline in the total activity of the UK’s nightclub sector since March 2020. This equates to a loss of 405 venues, with the number of nightclubs dropping from 1,240 in March 2020 to just 835 in November 2024. While late 2024 saw a…
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In December the following administration notices were issued and advertised in the London Gazette for the following companies: A J MECHANICAL SERVICES LIMITED AB PAPERS UK LIMITED AFAAD INVESTMENT PROPERTIES LTD AGE UK STAFFORDSHIRE AGRS HOLDING LIMITED AKJ ENTERPRISES LIMITED ALWAYSDREAMING LTD ANDBRIDGE PROPERTY LIMITED AQUADART BRANDS LIMITED ARCTIC FISH PRODUCTS LIMITED ASHLEY GROVE &…
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Creditors Voluntary Winding-Up – Appointment of Liquidators notices have been issued in the London Gazette for the following companies in December: 05 MEDIA LTD 05684 LTD 12266662 LIMITED 14 KEMPS HOUSE LTD 150KPR CAPITAL LIMITED 1ST CALL RECRUITMENT SERVICES LTD 2 EMME TECHNOLOGY U.K. LIMITED 2 FO 1 PIZZA COALVILLE LTD 22 ARCHES LTD 24-7…
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In December, Winding Up Petitions (Companies) were issued and advertised in the London Gazette for the following companies: 3 C’S CONSTRUCTION SERVICES LTD 3RD ALLIANCE LTD 68K MANAGEMENT LTD 9203-5559 QUEBEC INC LTD A&P 24 LTD ABC DELIVERIES LTD AGATRANS (FELIXSTOWE) LIMITED ANACONDA CAPITAL LIMITED ANNA (RKS) LTD ANNROSE LIMITED ANON (CHESTERFIELD) LTD ANTONIO’S TV…
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Business insolvencies in Ireland hit their highest level in six years according to research by PwC. Insolvencies increased by 16 per cent, although they came in below expectations as the fourth-quarter saw a drop off in company collapses. The total figure for 2024 was 852, which was well shy of PwC’s forecast that insolvencies would…
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The retail sector is braced for a challenging year, with a record 17,349 shop closures forecast for 2025, according to the Centre for Retail Research. If the forecast is correct then this would surpass the previous record of 17,145 in 2022. Last year, 13,479 shops closed and 169,395 retail jobs were los marking a 28% increase from…
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Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales was 1,966 in November 2024, 13% higher than in October 2024 (1,743) and 12% lower than the same month in the previous year (2,243 in November 2023). The business insolvencies consisted of 254 compulsory liquidations, 1,565…
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